SCHEDULES

SCHEDULE 22 Tonnage tax

Part XIII Application of provisions to partnerships

Adjustments for capital allowance purposes

135

The regulations may provide that where a partner leaves tonnage tax, such adjustments shall be made for capital allowance purposes, in relation to that partner and all or any of the other partners, with respect to—

(a)

the amount of qualifying expenditure under Part II of the M1Capital Allowances Act 1990 (plant and machinery), and

(b)

the amount of unrelieved qualifying expenditure under Part I of that Act (industrial buildings),

as may be specified in the regulations.